Central regions | Finance, business | Technology & innovation
Russian company takes over U.S. process intelligence developer
7 Aug '19
ABBYY, a Russian-based international developer of digital IQ tech and solutions, has acquired Philadelphia, Pennsylvania-based TimelinePI, a developer of a comprehensive process intelligence platform designed to empower users to understand, monitor and optimize any business process.
As stated in ABBYY’s most recent press release, the acquisition of TimelinePI represents a significant milestone in “establishing the Russian company’s leadership role in the digital transformation market as well as a global player in the emerging process mining market,” which Gartner estimates will triple by 2023. The combination of ABBYY’s deep understanding of enterprise content in all of its forms with the critical process context provided by the TimelinePI technology enables customers to “achieve a level of digital intelligence previously unavailable.”
ABBYY’s digital IQ solutions are designed to optimize operations by removing friction from business processes through automated understanding of structured and unstructured content (such as IDs, paystubs, tax forms, etc.). This insight is key to greatly increasing the speed and accuracy of executing these processes while also reducing costs. With the addition of the TimelinePI technology, organizations can now more deeply analyze these processes to identify opportunities for improvements, compliance issues, and assess the performance of human and digital workers within processes.
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